Interim Management Statement (4163O)
September 16 2011 - 8:53AM
UK Regulatory
TIDMAVC
RNS Number : 4163O
Aberdeen Development Capital PLC
16 September 2011
Aberdeen Development Capital PLC ("the Company")
Interim Management Statement - Quarter ended 31 August 2011
This Interim Management Statement for the quarter ended 31
August 2011 is provided in accordance with Rule 4.3 of the
Disclosure and Transparency Rules of the UK Listing Authority and
also includes relevant information in respect of the period from 1
September 2011 to the date of issue. This Statement has been
prepared solely to provide additional information in order to meet
the relevant requirements of the UK Listing Authority's Disclosure
and Transparency Rules, and should not be relied on by
Shareholders, or any other party, for any other purpose.
1. Financial highlights
Net Asset Value* ("NAV") of 5.7p per Ordinary share at 31 August
2011; when compared to the NAV at 31 May 2011 of 5.9p, represents a
decrease of 3.4% over the three month period and is mostly due to
the accretion of entitlement to Zero dividend preference ("ZDP")
shareholders.
* The NAV is unaudited. Unlisted companies are valued on a six
monthly basis and the NAV incorporates the Directors' valuation of
unlisted investments as at 31 May 2011. The Company held no quoted
investments as at 31 August 2011.
2. Investments and disposals
During the quarter ended 31 August 2011, no new or follow-on
investments were made. No full exits were achieved, however,
GBP1,069,000 was received as part of an early repayment of
institutional loan stock.
There were no other material transactions during the period
under review.
3. Recent developments
Between 31 August 2011 and the date of this statement, no new or
follow-on investments have been made, nor have there been any
investment sales.
Shareholder and general meetings of subsidiary companies ADC
Zeros 2010 PLC and ADC Zeros 2012 PLC were held today to approve
their early liquidation, thus protecting the capital nature of
returns to ZDP shareholders. It is anticipated that a return of 8p
per share will be made by the liquidator on or around 20 September
2011. Further returns will be considered as liquidity allows.
Other than as described above, the Board is not aware of any
material events during the period from 1 June 2011 to 31 August
2011, or in the period from 1 September 2011 to the date of this
announcement, which would have had a material impact on the
financial position of the Company.
Issued on behalf of the Board
Aberdeen Asset Management PLC, Secretary
16 September 2011
This information is provided by RNS
The company news service from the London Stock Exchange
END
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